Angiotech Signs Licence Agreement With Poly-Med.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--June 19, 2001

Angiotech Pharmaceuticals, Inc. (NASDAQ:ANPI)(TSE:ANP.) today announced that it has acquired an exclusive, worldwide licence from Poly-Med, Inc. for various patented biomaterials.

This licence provides Angiotech with key intellectual property to further expand its product pipeline, strengthening its program that focuses on the improvement of medical device performance with therapeutic solutions.

Dr. Shalaby, Founder, President and Director of Research and Development at Poly-Med, brings expertise in biomaterials that extends over thirty years. "I believe that our agreement with Angiotech will provide them with a pioneering opportunity to extend and enrich certain key segments of their drug implant programs," said Dr. Shalaby.

"Angiotech is very excited to be collaborating with Dr. Shalaby and the entire Poly-Med organization," affirms Dr. Tom Spencer, Angiotech's Chief Scientific Officer. "Our alliance will accelerate the advancement of our technology into new products."

Poly-Med is a privately held development company in Anderson, South Carolina. It holds numerous patents and develops innovative products for adhesion barriers, bone fillers, sealants and bioadhesives.

Angiotech Pharmaceuticals, Inc. is a Canadian pharmaceutical company dedicated to the development of medical device coatings and treatments for chronic inflammatory diseases through reformulation of the anticancer drug, paclitaxel. Four pharmaceutical therapies are in clinical development: systemic Micellar Paclitaxel for secondary progressive multiple sclerosis (Phase 2), rheumatoid arthritis (Phase 1) and severe psoriasis, as well as Topical Paclitaxel Gel for psoriasis (Phase 1). The paclitaxel-coated coronary stent program has also entered human safety studies. Other medical device programs include paclitaxel-loaded surgical implants for the treatment of restenosis associated with peripheral vascular surgery and for the treatment of proliferative ocular conditions.

Statements contained herein that are not based on historical fact, including without limitation statements containing the words "believes," "may," "will," "estimate," "continue," "anticipates," intends," " expects" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, both national and in the regions in which the Company operates; technology changes; competition; changes in business strategy or development plans; the ability to attract and retain qualified personnel; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; liability and other claims asserted against the Company; and other factors referenced in the Company's filings with the securities and Exchange Commission. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statement contained herein to reflect future result, events or developments.